Nasdaq Up Triple Digits; Dow Struggling to Keep Up

Investors are already eyeing tomorrow's jobs report

Digital Content Manager
Dec 7, 2023 at 11:52 AM
facebook X logo linkedin


Stocks are mostly higher this afternoon, as Wall Street continues to sift through the latest jobless data ahead of tomorrow's highly anticipated jobs report, which will likely inform the Federal Reserve's next steps.

At last glance, the Nasdaq Composite (IXIC) is up triple digits following Alphabet's (GOOGL) launch of its Gemini artificial intelligence (AI) model. Meanwhile, the Dow Jones Industrial Average (DJI) is flat, and the S&P 500 Index (SPX) sits comfortably higher, as the latter eyes its first gain in four sessions.

Continue reading for more on today's market, including:

  • Advanced Micro Devices launches new AI chip.
  • Analyst says video game stock is in "holding pattern."
  • Plus, Chewy slashes sales target; behind ENVA's surge; and Sprinklr stock eyes worst day on record.

MMC Stats1207

Chewy Inc (NYSE:CHWY) stock is down 3.6% at $18.65 at last check, after the pet goods e-tailer cut its annual sales target, as consumers seek cheaper alternatives due to inflation. Options traders are already responding to the update, with 59,000 calls and 46,000 puts exchanged so far -- seven times the average intraday volume. The most active contract is the weekly 12/8 16-strike put. CHWY is running into overhead pressure from its 20-day moving average after yesterday's rejection at the $20 level, while carrying a 49.8% year-to-date deficit.

CHWY 20 Day

Enova International Inc (NYSE:ENVA) is among the best stocks on the New York Stock Exchange (NYSE) today, last seen up 7.4% to trade at $47.09. The company today announced the closing of $400 million of senior unsecured notes due in 2028. ENVA is trading at its best level since October, and sports a 21.8% year-to-date lead.

Conversely, Sprinklr Inc (NYSE:CXM) stock is at the bottom of the NYSE, trading 30.2% lower at $11.67 at last check. Today's bear gap follows a dismal fiscal 2025 outlook, which cast a shadow on the company's better-than-expected third-quarter results. In response, four analysts slashed their price targets, and BTIG issued a downgrade to "neutral." CXM as is on track for its worst day on record, but still boasts a 42.2% lead for 2023.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI